Deals
GlobalFoundries, Mubadala Seek to Raise $2.6 Billion in IPO
A 300 millimetre silicon wafer at the Globalfoundries semiconductor plant in Dresden, Germany.
Photographer: Liesa Johannssen-Koppitz/BloombergThis article is for subscribers only.
Chipmaker GlobalFoundries Inc. and major shareholder Mubadala Investment Co. plan to raise as much as $2.6 billion in a U.S. initial public offering.
The company is marketing 33 million shares while Abu Dhabi’s Mubadala plans to sell 22 million shares, according to a filing with the U.S. Securities and Exchange Commission on Tuesday. The shares are being offered at $42 to $47 each, the filing showed. At the top of that range, GlobalFoundries would have a market value of $25 billion based on the outstanding shares listed in its filing.